Global Stocks Strengthen as Oil Dips Below $90 a Barrel — Update

By Joe Stonor

Stocks rose across the globe as Brent crude briefly fell below $90 for the first time since August, while Treasurys treaded water ahead of U.S. inflation data later Tuesday.

U.S. stock futures were largely higher following gains overnight across Asia and a strong open in Europe. Dow Jones Industrial Average futures gained 0.4% and S&P 500 futures were up 0.07%. The Nasdaq lagged, with contracts tied to the index trading 0.3% lower. Premarket moves were more muted following Monday's rally, when all three major indexes rose by more than 2% for the first time since April.

Asian indexes picked up momentum from the strong U.S. session. Korea's Kospi rose 4.4% and Japan's Nikkei Stock Average added 2.9%. Airlines rallied across the continent, with indexes in Hong Kong and Shanghai rising. Europe's energy-intensive industrial stocks gained, with the Stoxx 600 up 0.9% in early trade.

Sentiment was boosted by lower oil prices as benchmark contracts extended falls after closing at around a two-month low in the last session. Brent crude for January delivery fell more than 2% to hover just above $90 a barrel after dipping below the key threshold earlier in the session. West Texas Intermediate contracts traded around $85 a barrel.

Tentative signs of diplomatic progress in the Iran conflict encouraged the drop in oil prices after President Trump met with Qatar's prime minister--a key mediator--at the White House on Monday. Following the meeting, the president said there is "positive momentum toward an end to this conflict" in a Truth Social post, and said further strikes against Iran "seem to be quite unlikely."

Treasury yields were little moved ahead of U.S. consumer-price inflation data due later in the day. Ten-year yields edged slightly higher to hold around 4.892%, while 30-year yields rose 0.2% to around 5.269%. Two-year yields were up 1.6% at around 4.618%. The inflation print will help shape market expectations for the Federal Reserve's December policy meeting. Markets currently price an 83.8% likelihood of a quarter-point hike, according to LSEG.

The dollar slipped and gold was trading around $4,076 a troy ounce. Bitcoin fell 0.9% to trade around $74,274.

Anthropic priced its hotly anticipated initial public offering at $70-$78 a share, valuing the Claude maker at around $1.33 trillion, below the $2 trillion figure floated months ago. Trading is expected to start later this month.

Nvidia shares were 0.3% lower premarket after earlier increases and following heavy losses Monday as investors responded to an internal investigation into Chief Executive Jensen Huang's affair with an alleged Chinese spy.

The selloff sparked by the scandal was largely limited to Nvidia. The broader artificial-intelligence trade will come into focus Tuesday when highly scrutinized cloud-computing group CoreWeave reports earnings after the closing bell.

Write to Joe Stonor at josephmichael.stonor@wsj.com

(END) Dow Jones Newswires

November 10, 2026 07:53 ET (12:53 GMT)